Thoughts on Appraisal Management, REO and Real Estate Tech

People turn to credit unions expecting exceptional service, competitive interest rates and lower fees. Mortgage lending is a great opportunity for credit unions to meet their members’ needs with these expectations in mind. Property valuations are critical to the process of securing a mortgage loan, so it is vital to every lender that their valuation process is as streamlined and effective as possible.

There are two current trends that are tied to appraisal-related problems within the industry: The first relates to ongoing challenges with obtaining appraisal reports in a timely fashion in certain states; and the second has to do with an expected reduction in refinance business, which will require mortgage lenders to strengthen their purchase money origination networks